MEXC unveils $20M ecosystem fund to support Sei Network

  • MEXC Venture’s $20 million ecosystem fund targets support for key projects on Layer 1 blockchain Sei Network.
  • Sei Network secured $5 million in August from investors such as Coinbase Ventures and Multicoin Capital.
  • The platform plans to support 20 dApps as its mainnet launch approaches.

MEXC, a leading Singapore-based cryptocurrency trading platform, has unveiled a $20 million fund aimed at supporting projects on Layer 1 blockchain Sei Network.

In a blog post published on 4 January, MEXC said the fund will be geared towards boosting adoption across the Sei Network ecosystem. 

The platform, which is designed with the need to maximise trading advantages for decentralised exchanges (DEXs) users, is developed by Sei Labs – a team that counts former Robinhood developers, Cosmos OGs and ex-Goldman Sachs finance and strategy members.

Sei Network to support 20 dApps ahead of mainnet launch

Sei Network raised $5 million in August, backed by industry players and other investors including Coinbase Ventures, Multicoin Capital, Delphi Digital and Hudson River Trading. The platform plans to use the new capital injection to support network development as it moves closer to its mainnet launch.

The team will also back 20 decentralised applications (dApps) that are already building on the network.

MEXC is launching the ecosystem fund through its MEXC Ventures, a comprehensive fund that looks to empower innovations within the crypto space via strategic investments. The firm also focuses on M&As project incubation and multi-manager investments.

MEXC Ventures currently holds over $100 million in assets under management and more than 300 portfolio investments.

All Dutch and English crypto news!

Sri Lanka against Bitcoin adoption, rejects Draper’s anti-corruption pitch

On a recent visit to Sri Lanka, American billionaire Tim Draper pitched the idea of adopting Bitcoin (BTC) as a legal tender to fight against...

Dit zijn alle cryptobedrijven die zijn omgevallen… tot nu toe

Februari is voor cryptobegrippen rustig begonnen, er zijn (nog) geen faillissementen aangekondigd. Dat is fijn, zeker na zo'n turbulente periode waarin crypto exchanges, leenbedrijven en...

YouTuber baits MMA fighter into secretly shilling fake NFTs for $1K

Coffeezilla, a YouTuber and crypto investigator, revealed that American mixed martial artist Dillon Danis promoted a fake NFT project without disclosing that he received $1,000...

Little Shapes was a ‘social experiment’ to expose NFT botnets: founder

Atto, the pseudonymous founder behind Little Shapes NFT has revealed that the project was actually a "social experiment" designed to shed light on large-scale NFT...

Beste exchanges

Koop je crypto bij Bitvavo